MAG Silver publishes the Canadian Business Journal’s first sustainability report.

VANCOUVER, British Columbia, October 5, 2022 (GLOBE NEWSWIRE) — MAG Silver Corp. (TSX / NYSE USA: MAG) (“MAG”, “Mag Silver”or “Company”) is the first Sustainability Report (“reportIt provides a comprehensive overview of the company’s ESG commitments, practices and performance in 2021 while highlighting MAG’s fundamental commitment to transparency with its stakeholders. To view or download a copy of the report, please visit his ESG section of the MAG Silver website at https://magsilver.com/esg/reports/.

“Publishing our first Sustainability Report is an important evolutionary milestone for our company, and our long-standing, proactive corporate commitment to sustainability, respect, transparency and stakeholder communication has enabled us to manage and measure our company. MAG’s president and CEO, George Paspalas, said:

2021 Sustainability Report Highlights:

• The health and safety of our employees remains our top priority. We are happy to report:
  • Zero fatalities at the Juanicipio project and the MAG Silver exploration project.
  • The Juanicipio Project Lost Time Rate (million hours) is 10.08 (excluding employees and mining contractors and construction contractors).
  • More than 51,000 hours were spent on safety training for the 2021 Juanisipio project.
  • The risk management system has been reviewed and updated for 2021 and 2022.
• Zero major environmental incidents at the Juanicipio project and MAG exploration projects.
  • The Juanicipio project under construction will have 4% freshwater and 84% renewable electricity.
  • In 2021, MAG Silver assessed its performance on current climate-related risks and opportunities in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures.
• MAG’s 2021 commitment to increasing diversity on its board and senior management means that 38% of MAG’s board of directors and 40% of MAG’s employees are now women.
• MAG’s Human Rights Policy and Diversity, Equity and Inclusion Policy have been updated and endorsed to complement and strengthen existing commitments.
• The first materiality assessment conducted in 2020 has been reviewed and updated to include key material aspects of the Juanicipio project.

About Magsilver (www.magsilver.com )

MAG Silver Corp. is a Canadian development and exploration company focused on becoming a leading primary silver mining company by exploring and advancing high-grade district-scale silver-dominant projects in the Americas. Its main focus and assets are the Juanicipio project (44%) being developed together with its operator, Fresnillo Plc (56%). The project is located in Mexico’s Fresnillo Silver Trends, one of the world’s premier silver mining camps, where the operator is currently developing an underground mine and is building a 4,000 tonne per day processing plant. Underground mine production of mineralized development materials commenced in Q3 2020 and an extended exploration program is underway for several highly promising targets at Juanicipio. MAG also runs a multi-stage exploration program at the Deer Trail 100% Earn-In project in Utah and recently acquired the Larder project in the historically prolific Abitibi region of Canada.

Neither the Toronto Stock Exchange nor NYSE American confirms or accepts responsibility for the accuracy or adequacy of this press release prepared by management.

This press release and the sustainability reports referenced herein are subject to the provisions of the U.S. Private Securities Litigation Reform Act of 1995 and the Canadian Securities Act (collectively, “forward-looking statements”). All statements in this press release and sustainability report, other than statements of historical fact, are forward-looking statements, including, but not limited to, statements regarding: further development of preliminary climate risk assessments; formation of joint health and safety committees with Fresnillo plc; MAG Silver’s participation in the UN Global Compact – Targeted Gender Equity Accelerator Program. Construction and opening of a new health and safety training center. Expansion of community and environmental initiatives and projects. MAG Silver progresses towards meeting ISO 14001 occupational health and safety management requirements and receiving ISO 14001 environmental management system certification. Investigating viable decarbonization opportunities, including evaluating and using renewable energy sources; developing climate change management plans and related planned disclosures; and other future events or developments. Forward-looking statements often, but not always, “seek”, “estimate”, “plan”, “continue”, “estimate”, “expect”, “may” , and is identified by the use of words such as “scheduled”. , “predict”, “predict”, “could”, “target”, “intend”, “could”, “could”, “should”, ” expressions such as ‘believe’. MAG does not base its expectations expressed in such forward-looking statements on reasonable assumptions, including the assumption that its ongoing environmental and social programs and initiatives will continue to progress in a manner consistent with its expectations. However, such statements are not forward-looking statements. It also involves known and unknown risks, uncertainties and other factors that could cause actual results or developments to differ materially from those identified in the forward-looking statements.

Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the impact, both direct and indirect, of COVID-19. Supply chain constraints and general cost increases in the current inflationary environment heightened by Russia’s invasion of Ukraine. Changes to Applicable Laws, Regulations, or Community Guidelines. Changes in mineral production performance, development and exploration success. the continued availability of capital and funding; general economic, market or business conditions, political risks, currency risks and inflation of the cost of capital; Other risks identified in MAG Silver’s regulatory filings with the U.S. Securities and Exchange Commission filed with EDGAR www.sec.govand with the Securities Commission and Regulators of Canada in SEDAR. www.sedar.com.

NOTICE: Investors are strongly advised to review the disclosures in MAG’s Annual Reports, Quarterly Reports and other public documents. www.sec.gov. When www.sedar.com.

LEI: 254900LGL904N7F3EL14

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